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|||||Page|
|---|---|---|---|---|
|Reference and administrative||details ofthe charity,|its Trustees and advisers|1-2|
|Trustees'<br>report||||3-9|
|Independent<br>auditors'|report|on the financial statements||10-13|
|Statement offinancial|activities|||14|
|Balance sheet||||15|
|Statement ofcash flows||||16|
|Notes to the financial|statements|||17-34|





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||||Endowment|Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|funds|
||||2022|2022|2022|2022|2021|
|||Note||F|F|F|E|
|Income and||||||||
|endowments|from:|||||||
|Donations<br>and|legacies||||115|115|2,064|
|Charitable<br>activities|||||220,082|220,082|206,462|
|Investments|||||24,664|24,664|56,191|
|Other income|||||4,159|4,159||
|Total income|and|||||||
|endowments|||||249,020|249,020|264,717|
|Expenditure<br>on:||||||||
|Charitable<br>activities|||||374,900|374,900|262,916|
|Total expenditure|||||374,900|374,900|262,916|
|Net||||||||
|(expenditure)lincom||||||||
|e before net|gains|||||||
|on investments|||||{125„880)|{125,880)|1,801|
|Net gains on||||||||
|investments||||58,302|133,877|192,179|2,259,265|
|Net income||||58,302|7,997|66,299|2,261,066|
|Transfers<br>between||||||||
|funds||||{589,989)|589,989|||
|Net movement|in|||||||
|funds||||(531,687)|597„986|66,299|2,261,066|
|Reconciliation|of|||||||
|funds:||||||||
|Total funds brought||||||||
|forward|||73,915|531,687|11,296,890|11,902,492|9,641,426|
|Net movement|in funds|||(531,687)|597,986|66,299|2,261,066|
|Total funds carried||||||||
|forward|||73,915||11,894,876|11,968,791|11,902,492|





## 

## 

|||||||2022||2021|
|---|---|---|---|---|---|---|---|---|
|||||Note|||||
|Fixed assets|||||||||
|Tangible assets||||12||6,446,811||6,411,361|
|Investments||||13||3,047,736||2,455,557|
|||||||9,494,547||8,866,918|
|Current assets|||||||||
|Debtors||||14|8,469||8,949||
|Funds on deposit||||15|2,369,339||2,681,351||
|Cash at bank and|in hand||||132,974||370,941||
||||||2,510,782||3,061,241||
|Creditors: amounts|falling||due within one||||||
|year|||||(36,538)||(25,667)||
|Net current assets||||||2,474,244||3,035,574|
|Total assets less|current||liabilities|||11,968,791||11,902,492|
|Net assets excluding||pension asset||||11,968,791||11,902,492|
|Total net assets||||||11,968,791||11,902,492|
|Charity funds|||||||||
|Endowment<br>funds||||17||73,915||73,915|
|Restricted<br>funds||||17||||531,687|
|Unrestricted<br>funds||||17||11,894,876||11,296,890|
|Total funds||||||11,968,'791||11,902,492|





## 

|for the y|ear ended 31 March 2022||||
|---|---|---|---|---|
||||2022|2021|
||||K||
|Cash flows from operating<br>activities|||||
|Net cash|used<br>in operating<br>activities||(110,784)|12,226|
|Cash flows from investing<br>activities|||||
|Purchase|oftangible<br>fixed assets||(39,195)|(71,119)|
|Proceeds|from sale of investments|||250,000|
|Purchase|ofinvestments||(400,000)|(650,000)|
|Proceeds|from sale of investment<br>property|||3,425,214|
|Net cash|(used in)/provided<br>by investing|activities|(439,195)|2,954,095|
|Cash flows from financing<br>activities|||||
|Net cash|provided<br>by financing<br>activities||||
|Change|in cash and cash equivalents<br>in|the year|(549,979)|2,966,321|
|Cash and|cash equivalents<br>at the beginning|ofthe year|3,052„292|85,971|
|Cash and cash equivalents<br>at the end of||the year|2,502,313|3,052,292|
|The notes on pages 17to 34 form part ofthese financial statements|||||





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||||||||Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|---|---|
||||||||funds|funds|funds|
||||||||2022|2022|2021|
||Collegians|maintenance|||payments||219,802|219,802|206,462|
||Contributions||to|College|outings and events||280|280||
||||||||220,082|220,082|206,462|
||Total 2021||||||206,462|206,462||
|6.|Other incoming|||resources||||||
||||||||Unrestricted|Total|Total|
||||||||funds|funds|funds|
||||||||2022|2022|2021|
||||||||||F|
||Other income||||||4,159|4,159||
||Total 2021|||||||||
|7.|Analysis ofexpenditure||||on charitable|activities||||
||Summary|by fund type||||||||
||||||||Unrestricted|Total|Total|
||||||||funds|funds|funds|
||||||||2022<br>F|2022f|2021<br>F|
||Almshouse||accommodation||||329,847|329,847|211,751|
||Outings<br>and||events||||1,667|1,667|1,906|
||Governance||||||43,386|43,386|49,259|
||||||||374,900|374,900|262,916|
||Total2021||||||262,916|262,916||





## 

## 

|||||||Total|Total|
|---|---|---|---|---|---|---|---|
||||Staff costs|Depreciation|Other costs|funds|funds|
||||2022|2022|2022|2022|2021|
||||F||E||F|
|Almshouse||accommodation|57,532|3,746|268,569|329,847|211,751|
|Outings|and|events|||1,667|1,667|1,906|
|Governance|||18,898||24,488|43,386|49,259|
||||76,430|3,746|294,724|374,900|262,916|
|Total 2021|||92,160|3,271|167,485|262,916||



## 

||||Activities||||
|---|---|---|---|---|---|---|
||||undertaken|Support|Total|Total|
||||directly|costs|funds|funds|
||||2022|2022|2022|2021|
||||||E||
|Almshouse||accommodation|274,934|54,913|329,847|211,751|
|Outings|and|events|1,667||1,667|1,906|
|Governance||||43,386|43,386|49,259|
||||276,601|98,299|374,900|262,916|
|Total 2021|||180,558|82,358|262,916||





## 

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## 

||||Almshouse||||
|---|---|---|---|---|---|---|
||||accommodaOutings|and|Total|Total|
||||tion|events|funds|funds|
||||2022<br>f|2022|2022<br>F|2021f|
|Wages and|salaries||57,532||57,532|60,695|
|Depreciation|||3,746||3,746|3,271|
|Repairs|||129,034||129,034|46,195|
|Water Rates|||10,729||10,729|10,441|
|Council tax|||4,226||4,226|4,780|
|Electricity|||6,998||6,998|5,205|
|Gas consumption||-The College|2,204||2„204|1,424|
|Maintenance|and repairs to equipment||2,341||2,341|4,105|
|Cleaning<br>expenses|||3,850||3,850|4,333|
|Insurance|||3,725||3,725|3,936|
|Upkeep ofgrounds|||41,149||41,149|23,659|
|Telephone|||1,623||1,623|1,494|
|Papers and|magazines||374||374|371|
|College outings||and events||1,667|1,667|1,906|
|Maintenance|of|organ|334||334|183|
|Age concern|Aid|Call|1,610||1,610|1,475|
|Sundry expenses|||3,659||3„659|6,325|
|Weekend<br>duty rota|||1,800||1,800|760|
||||274,934|1,667|276,601|180,558|
|Total 2021|||178,652|1,906|180,558||





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|||Almshouse||||
|---|---|---|---|---|---|
|||accommoda||Total|Total|
|||tion|Governance|funds|funds|
|||2022|2022|2022|2021|
|||||F||
|Clerk's salary|||18,898|18,898|31,465|
|Chiropodists<br>fees||894||894|428|
|Subscriptions<br>and sundries||2,159||2,159|2,205|
|Organist fees||960||960|740|
|Printing,<br>posting and stationery||1,400||1,400|1,874|
|Advertising|||||180|
|Website expenses||1,887||1,887|331|
|Architects<br>and surveyors||25,229||25,229|11,247|
|Legal and professional|fees (investment|||||
|propet1ies)||21,738||21,738|14,106|
|Bank charges||588||588|832|
|Chaplain<br>expenses||58||58|32|
|Clerk's expenses|||992|992|810|
|Trustees' expenses|||1,913|1,913|259|
|Legal and professional|fees||||9,841|
|Outsourced<br>payroll costs|||14,432|14,432|644|
|Auditors'<br>remuneration|||3,837|3,837|3,660|
|Auditors'<br>non audit costs|||3,314|3,314|2,580|
|Provision<br>of LPAs to Collegians|||||1,124|
|||54,913|43,386|98,299|82,358|
|Total 2021||33,099|49,259|82,358||



## 



## 

## 

|||||2022|2021|
|---|---|---|---|---|---|
|Depreciation||oftangible|fixed assets|||
|-owned|by|the charity||3,746|3,280|
|Auditors'|remuneration|||3,837|3,660|



## 

||||2022|2021|
|---|---|---|---|---|
|||||F|
|Wages and|salaries||92„624|106,609|
|Employers|Nl||2,910|4,341|
|Employers|pension|contributions|1,782|2,136|
||||97,316|113,086|





## 

||||Assets||
|---|---|---|---|---|
||College|Plant &|under||
||Property|machinery<br>F|construction<br>f|Total<br>F|
|Cost or valuation|||||
|At 1 April 2021|6,403,861|25,924||6,429,785|
|Additions|23,717|2,373|13,105|39,195|
|At 31 March 2022|6,427,578|28,297|13,105|6,468,980|
|Depreciation|||||
|At 1 April 2021||18,424||18,424|
|Charge for the year||3,745||3,745|
|At 31 March 2022||22,169||22,169|
|Net book value|||||
|At 31 March 2022|6,427,578|6,128|13,105|6,446,811|
|At 31 March 2021|6,403,861|7,500||6,411,361|



## 

||Unlisted|Other||
|---|---|---|---|
||investments|investments|Total|
||F|F|E|
|Cost or valuation||||
|At 1 April 2021|531,687|1,923,870|2,455,557|
|Additions||400,000|400,000|
|Revaluations|58,302|133,877|192,179|
|At 31 March 2022|589,989|2,457,747|3,047,736|
|Net book value||||
|At 31 March 2022|589,989|2,457,747|3,047,736|
|At 31 March 2021|531,687|1,923,870|2,455,557|





## 

## 

|Investments<br>at market value|comprise:|comprise:|||
|---|---|---|---|---|
||||2022|2021|
|||||E|
|Unlisted<br>investments<br>in the Capital Projects Fund|||589,989|531,687|
|Other fixed asset investments|||2,457,747|1,923,870|
|Total market value|||3,047,736|2,455,55?|
|All the fixed asset investments|are held|in the UK.|||



## 

|Material investments|||||
|---|---|---|---|---|
||||2022|2021|
|5,541 M8 G Charity<br>Multi|Asset Fund (2021:5,541 shares)||589,989|531,687|
|25,122 COIF income shares (2021:25,122||shares)|489,209|450,343|
|277,972 Newton<br>Growth|8, Income Fund shares (2021:149,414)||558,612|266,525|
|577,739 Ruffer Charity Assets Trust (2021:||577,739)|1,026,816|950,612|
|79,872 Sarasin Climate|Active Endowment|(2021:79,872)|270,847|256,390|
|10,512 Baillie Gifford Long Term Global Growth (2021:0)|||112„263||
||||3,047,736|2,455,557|
|Accumulation<br>units held|for each investment|unless stated otherwise.|||



## 

||||2022f|2021|
|---|---|---|---|---|
||Other debtors||6,985|6,702|
||Prepayments|and accrued income|1,484|2,247|
||||8,469|8,949|
|15.|Funds on deposit||||





## 

|||2022|2021|
|---|---|---|---|
|||E||
|Other|creditors|36,538|25,667|





## 

## 

|Statement offu|nds - current yea|r|||||
|---|---|---|---|---|---|---|
|||||||Balance at|
||Balance at 1|||Transfers|Gains/|31 March|
||April 2021|Income|Expenditure|in/out|(Losses)|2022|
||F.|F|E||F|F|
|Unrestricted|||||||
|funds|||||||
|Designated|||||||
|funds|||||||
|Designated|||||||
|property<br>fund|6,329,946|||||6,329,946|
|Designated|||||||
|maintenance|||||||
|fund|111,000|||5„670||116,6'70|
|Capital projects|||||||
|fun cl|4,075,000|||589,989||4,664,989|
|Hardship<br>fund|10,000|||||10,000|
|WER Advanced|||||||
|Rent Reserve|||||||
|Fund|215,848|||(90,000)||125,848|
||10,741,794|||505,659||11,247,453|
|General funds|||||||
|General<br>Funds|555,096|249,020|(374,900)|84,330|133,877|647,423|
|Endowment|||||||
|funds|||||||
|Endowment|||||||
|Fund|73,915|||||73,915|
|Restricted|||||||
|funds|||||||
|Extraordinary|||||||
|repair fund|531,687|||(589,989)|58,302||
|Total offunds|11„902,492|249,020|(374,900)||192,179|11,968,791|





## 

## 

|Statement offun|ds - prior year||||||
|---|---|---|---|---|---|---|
|||||||Balance at|
||Balance at|||Transfers|Gains/|31 March|
||1 April 2020|Income|Expenditure|in/out|(Losses)|2021|
|||F|F|||F|
|Designated|||||||
|funds|||||||
|Designated|||||||
|property<br>fund|7,862,106|||(1,532,160)||6,329,946|
|Designated|||||||
|maintenance|||||||
|fund|109,330|||1,670||111,000|
|Capital projects|||||||
|fund|411,000|||3,664,000||4,075,000|
|Hardship<br>fund|10,000|||||10,000|
|WER Advanced|||||||
|Rent Reserve|||||||
|Fund||||215,848||215,848|
||8,392,436|||2,349,358||10,741,794|
|General funds|||||||
|General<br>Funds|545,113|264,717|(262,916)|(2,099,358)|2,107,540|555,096|
|Endowment|||||||
|funds|||||||
|Endowment|||||||
|Fund|73,915|||||73,915|
|Restricted|||||||
|funds|||||||
|Extraordinary|||||||
|repair fund|629,962|||(250,000)|151,725|531,687|
|Total offunds|9,641,426|264,717|(262,916)||2,259,265|11,902,492|





## 

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## 



## 

## 

|Summary|offun|ds -current year||||||
|---|---|---|---|---|---|---|---|
||||||||Balance at|
|||Balance at 1|||Transfers|Gains/|31 March|
|||April 2021|Income|Expendituref|in/out<br>E|(Losses)<br>F|2022|
|Designated||||||||
|funds||10,741,794|||505,659||11,247,453|
|General funds||555„096|249,020|(374,900)|84,330|133,877|647,423|
|Endowment||||||||
|funds||73,915|||||73,915|
|Restricted|funds|531,687|||(589,989)|58,302||
|||11,902,492|249,020|(374,900)||192,179|11,968,791|



|Summary|offund|s - prior year||||||
|---|---|---|---|---|---|---|---|
||||||||Balance at|
|||Balance at|||Transfers|Gains/|31 March|
|||1 April 2020|Income|Expenditure|in/out|(Losses)|2021|
|||E|||F||E|
|Designated||||||||
|funds||8,392,436|||2,349,358||10,741,794|
|General funds||545,113|264,717|(262,916)|(2,099,358)|2,107,540|555,096|
|Endowment||||||||
|funds||73,915|||||73,915|
|Restricted|funds|629,962|||(250,000)|151,725|531,687|
|||9,641,426|264,717|(262,916)||2,259,265|11,902,492|



|Analysis ofnet assets between funds - curr|ent year|||
|---|---|---|---|
||Endowment|Unrestricted|Total|
||funds|funds|funds|
||2022|2022|2022|
||E|||
|Tangible fixed assets||6,446,811|6,446,811|
|Fixed asset investments||3,047,736|3,047,736|
|Current assets|73,915|2,436,867|2,510,782|
|Creditors due within one year||(36,538)|(36,538)|
|Total|73,915|11,894,876|11,968,791|





## 

## 

|Analysis of net assets between funds|- prior year||||
|---|---|---|---|---|
||Endowment|Restricted|Unrestricted|Total|
||funds|funds|funds|funds|
||2021|2021|2021|2021|
|Tangible fixed assets|73,915||6,337,446|6,411,361|
|Fixed asset investments||531,687|1,923,870|2,455,557|
|Current assets|||3,061,241|3,061,241|
|Creditors due within one year|||(25,667)|(25,667)|
|Total|73,915|531,687|11,296,890|11,902,492|



## 

||||||2022|2021|
|---|---|---|---|---|---|---|
|Net income|for the year (as per Statement|||of Financial Activities)|66,299|2,261,066|
|Adjustments|for:||||||
|Depreciation|charges||||3,745|3,280|
|Losses on investments|||||(192,179)|(2,259,265)|
|Loss/(profit)|on the|sale offixed assets||||(8)|
|Decrease<br>in|debtors||||480|8,096|
|Increase/(decrease)||in creditors|||10,8?1|(943)|
|Net cash provided||by/(used|in) operating|activities|(110,784)|12,226|



## 

|||2022|2021|
|---|---|---|---|
|Cash|in hand|132,974|370,941|
|Funds|on deposit|2,369,339|2,681,351|
|Total|cash and cash equivalents|2,502,313|3,052,292|





## 

## 

||||At 1 April||At 31 March|
|---|---|---|---|---|---|
||||2021|Cash flows<br>f|2022|
|Cash|at bank and|in hand|370,941|(237,967)|132,974|
|Liquid|investments||2,681,351|(312,012)|2,369,339|
||||3052 292|(549,979)|2 502313|



##